Find an Insurance Policy for Your Pet

If you're debating whether or not to spring for insurance for your pet, see why this cost could pay off in the long run.

You can budget for an emergency: With an insurance policy, you make a payment every month (from $11 to $100, depending on the plan), allowing you to spread the financial burden of an illness or accident over time. You still pay the vet up front, but you should get reimbursed.

It could be cost-effective: Although insurance plans that include preventive care are pricier, they might be worth it if you intend to take your pet for regular checkups and shots. Ask your vet what "well care" your pet should receive, then consider choosing a policy that covers those services.

You get peace of mind: Think of an insurance policy as a safety net. Basic plans cover major events—for example, your dog gets hit by a car or develops a rare form of cancer. Insuring your pet provides a sense of security should the need for expensive procedures become a reality.

Sources: Louise Murray, DVM, vice president of the ASPCA Bergh Memorial Animal Hospital in New York City and author of Vet Confidential; and Silene Young, DVM, of Brea, Calif.